Sensex surges over 1,100 points adds ₹3.89L/cr IT stocks lead
The Sensex had a big Tuesday, jumping over 1,100 points and adding a massive ₹3.89 lakh crore to the combined market capitalisation of listed companies, now at ₹469 lakh crore.
The main stars were IT companies: HCL Tech and TCS both soared over 5% after strong results, while Tech Mahindra and Infosys also saw solid gains.
Nirmala Sitharaman remarks buoy markets
A mix of things gave markets a boost: Finance Minister Nirmala Sitharaman's talk about possible tweaks to capital gains tax got investors excited, while global trends like falling bond yields and cheaper oil made things even brighter.
The rupee holding strong against the dollar (thanks in part to RBI moves) added extra confidence.
Nifty closes 1.51% higher at 22,702.05
It wasn't just about tech: Nifty rose 1.51%, closing at 22,702.05, and the big names moved higher.
For anyone tracking levels: Nifty's support is seen around 19,600 to 19,500; resistance is near 20,000.